Bali United Owned By Conglomerate Pieter Tanuri Earns IDR 198.6 Billion In Revenue And IDR 191.6 Billion In Profit In 2021

Bali United striker Ilija Spasojevic. (Photo: Doc. Antara)

JAKARTA - The management of the Bali United club, PT Bali Bintang Sejahtera Tbk (BOLA) recorded a satisfactory financial performance in 2021. The revenue and net profit of the company owned by conglomerate Pieter Tanuri increased throughout last year.

In Bali United's financial report, quoted on Saturday, April 23, the company recorded revenues of IDR 198.6 billion in 2021. This revenue increased by 159.91 percent from 2020 of IDR 76.4 billion.

The company's revenue was supported by club management revenues on the commercial side of IDR 58.11 billion, and contributions of IDR 3.87 billion. Apart from club management, the company's revenue is also supported by the sports agency business, namely live video streaming and video recordings worth IDR 87.37 billion and sponsors worth IDR 44.97 billion.

Meanwhile, other revenues amounted to IDR 4.27 billion. Based on its customers, the company posted live video streaming and video recording revenues from PT Liga Indonesia Baru worth IDR 48.64 billion and from PT Vidio Dot Com worth IDR 24.9 billion.

Meanwhile, from commercial income, the company posted revenue from PT Indofood Sukses Makmur Tbk. (INDF) of Rp. 25.06 billion. The three customers contributed more than 10 percent to the company's total revenue.

With this revenue performance, the profit attributable to the owners of the parent company recorded a jump to IDR 191.6 billion. This net profit skyrocketed 3,567.8 percent compared to the same period in 2020 of IDR 5.22 billion.

Throughout 2021, the company recorded an increase in total assets to IDR 761.4 billion, up from 2020 of IDR 550 billion. The company's total current assets increased to IDR 600.7 billion in 2021, from IDR 414.8 billion in 2020 due to an increase in short-term investments and an increase in billing to clients, in connection with the running of Liga 1 in 2021/2022.

Meanwhile, the company's total liabilities at the end of 2021 fell to IDR 61.95 billion, from IDR 79.2 billion. The company explained that the decrease in this liability was due to the payment of obligations and bills during 2021.

The company's total equity increased to IDR 699.4 billion on December 31, 2021, from IDR 470.8 billion on December 31, 2020. This increase in equity was due to the fact that Liga 1 in 2021/2022 was running again, so BOLA began to receive sponsorship income. In addition, the company also obtains other income from short-term investments.